Second largest office letting in Hamburg in 2023: Ardian lets 15,000 sqm to new Fielmann headquarters

Ardian

Ardian, a world-leading private investment house, has signed a rental agreement for almost 15,000 m² of office space with Fielmann Group AG (“Fielmann”). Fielmann will relocate its headquarters to the Q21 Offices, located at Fuhlsbüttler Str. 399 in Hamburg-Barmbek, in mid-2025 and lease all of the office space on a long-term basis. The signing of the contract is the second largest office rental in Hamburg this year to date.

Ardian acquired the office and commercial building at the end of 2021. The current main tenant of the office space is Hochtief AG (“Hochtief”), which will remain in the building until March 2024.

Built in 2012, the building is being extensively upgraded by Ardian, with a focus on sustainability. The partially defective facade is currently being completely replaced by an attractive clinker brick facade with modern insulation, while  the common areas will be revised and the underground car park will be completely renovated. As part of the upgrade program, the existing DGNB Gold certification is to be expanded to include a BREEAM Excellent certification. Following Hochtief vacating the premises at the beginning of 2024, the office space will also be expanded to a modern, high-quality finish in line with Fielmann’s requirements.

In addition to the office space, there is attractive retail space for tenants on the ground floor of the complex with branches of Rewe, Denns Biomarkt, Budnikowsky and Targobank. There are also attractive dining options, which will soon be supplemented by another restaurant.

“We are pleased to have won Fielmann Group AG as a long-term tenant with the concept for the office space in Q21. The new lease is a perfect example of the current corporate trend of reducing office space and moving to higher quality, sustainably developed properties in locations with strong infrastructure. At the same time, the new rental is a positive signal for the Hamburg rental market.” Bernd Haggenmüller, Senior Managing Director Real Estate, Ardian

“With the comprehensive modernization, the property will be significantly upgraded, meeting Fielmann’s high standards regarding ESG criteria. We are also confident that the area around our building will benefit in the long term from this well-known anchor tenant.” Moritz Pohlmann, Director Real Estate, Ardian

LIST OF PARTICIPANTS

  • ARDIAN

    • ARCHITECTS BUILDING IMPROVEMENT: SHE ARCHITECTS
    • TENANT EXPANSION: OFFICE GROUP
    • ADVISOR TO LANDLORD: BNP PARIBAS REAL ESTATE
    • ADVISOR TENANT: CBRE
    • LAWYER LANDLORD: CLIFFORD CHANCE
    • TENANT ATTORNEY: NORTON ROSE

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $156bn of assets on behalf of more than 1,470 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 17 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

PRESS CONTACT

ARDIAN

Categories: News

Tags:

Ardian and Prelios SGR complete sale of Milan office building at the Milanofiori Business Park

Ardian

The building has undergone major renovation, including the complete renewal of most spaces across its six floors
• The property reached 100% occupancy as a result of the improvements, attracting leading tenants

Ardian, a world-leading private investment house, and Prelios SGR, one of Italy’s most important real estate and securities asset management companies, have completed the sale of an office building located at the Milanofiori Business Park in Milan’s Assago district to Inovalis, a major French real estate investment manager.

The transaction was conducted through a closed-end investment company (SICAF) wholly owned by Ardian and managed by Prelios SGR.

The building has a commercial area of approx. 18,000 sqm and 125 parking spaces. It consists of 6 floors for executive use, 1 ground floor with two food & beverage units serving the tenants, and a basement floor providing parking and archive facilities. The building is located in Milan’s Milanofiori Business Park, a mixed-use real estate complex including offices, residential properties, shops, a multi-screen cinema, hotel, fitness centre and university campus in the south-west of Milan. The area is strategically connected to the rest of the city via the M2 metro line, which provides access to the city’s three main railway stations (Garibaldi, Centrale and Cadorna), and is a 20-minute drive from Linate international airport.

Ardian and Prelios SGR completed major renovation plan on the property between 2018 and 2021. This included a total renovation of the spaces not yet leased and the complete redevelopment of the ground floor. A new double-height lobby was added to the building, alongside the refurbishment of the common areas. The maximum capacity of the floors was also increased. The building has obtained BREEAM certification.

The redevelopment has boosted rental activity and increased occupancy in the building, attracting leading national and international companies which have rewarded the quality level of the property compared to other buildings in Business Park. As a result, occupancy has increased from 51% at the time of purchase in 2017 to 100% today.

“While some parts of the office market outside of city centres have faced challenges in recent months, the redevelopment and extensive improvements completed on this property have seen it reach full occupancy and attract leading international tenants. This highlights the strong demand from the market for Grade A space and Ardian’s ability to enhance the value of its real estate assets. The sale of the property to Inovalis is an excellent signal for the market and demonstrates how Grade A office space with excellent tenant covenants continues to attract interest from institutional investors”. Matteo Minardi, Head of Real Estate Italy, Ardian

“We are pleased to have completed the renovation, improvement and sale of the Assago property, which included the significant improvement of the building’s rental profile and sustainability credentials. Against the current market backdrop, this transaction reiterates Prelios SGR’s experience in implementing targeted asset management that helps to improve quality and attractiveness for international investors. We are particularly proud to have created value for Ardian through this process”. Nicola Sajeva, Director Asset&Development Management, Prelios SGR

Savills acted as commercial advisor for the transaction. Ardian and Prelios SGR were supported by Studio Legale Gattai, Minoli, Partners as legal and tax advisor. CBRE acted as technical advisor.

ABOUT ARDIAN
Ardian is a world-leading private investment house, managing or advising $156bn of assets on behalf of more than 1,470 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 17 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com
ABOUT PRELIOS SGR
Prelios SGR is part of the Prelios Group and is one of the leading asset management companies in Italy. The company is active in the promotion, establishment and management of real estate and credit alternative investment funds, advisory and management of separate accounts, on behalf of leading Italian and international institutional investors. Prelios SGR plays a pioneering role in the innovation of investment products, both in terms of asset classes and types, including the management of one of the first heterogeneous SICAFs, and the largest UTP fund in Italy and among the largest in Europe. Prelios SGR has developed high standards and control systems in terms of governance, risk management and transparency, while maintaining operational flexibility. The Company is also committed to the promotion of sustainability values, as demonstrated by its adherence already in 2019 to the UN PRI – Principles for Responsible Investment and, from 2020, to the GRESB.

prelios.com
PRESS CONTACTS

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

Categories: News

Tags:

CapMan Hotels II fund and Lapland Hotels expand Finnish Lapland Hotels Oulu

Capman

CapMan Real Estate press release
3.11.2023 at 10:00 AM EET

CapMan Hotels II fund and Lapland Hotels expand Finnish Lapland Hotels Oulu

CapMan Hotels II fund has signed an agreement to acquire the asset “KOY Oulun Kuvernööri” in Oulu city centre, Finland, with the intention of redeveloping the building, currently used as an office, into part of Lapland Hotels Oulu. As a result of the conversion the hotel capacity will be increased by 95 rooms in order to meet the strong market demand.

KOY Oulun Kuvernööri is a five storied office property located in the city centre of Oulu, Finland, with a lettable area of 5,657 m2. The property is part of the same building complex as Lapland Hotels Oulu. CapMan Real Estate plans to carry out a thorough renovation where the building is transformed into a hotel and rented out on a long-term lease agreement to Lapland Hotels Oulu. As part of the renovation the adjacent buildings are connected, creating one larger hotel with 250 rooms and an increased number of restaurants and meeting rooms. Street level areas of the existing hotel will also be partially remodelled. Environmental and sustainability matters are central in the renovation. Once completed, the new asset targets environmental certificate level BREEAM In-Use Very Good.

”The Oulu hotel market is very appealing, and we are delighted to be part of further redeveloping Lapland Hotels Oulu. The planned extension will enable the hotel to increase operational efficiency and answer the strong market demand by growing an already very successful hotel concept”, comments Juhani Erke, Partner at CapMan Real Estate.

”As part of the renovation most rooms will be equipped with ensuite saunas as is central to our concept, the large courtyard will be developed for event use and meeting rooms will be expanded. In connection to this we will also renew parts of the current hotel. All this will create an even more attractive hotel than before. Our collaboration with CapMan, which started in 2017 and currently covers three of our hotels, has been very well-functioning and we are pleased to be kicking off this new redevelopment project with them as our partner”, says Ari Vuorentausta, CEO at Lapland Hotels.

The acquisition is expected to close and the redevelopment to start in one years’ time once required official authorisations have been obtained.

CapMan Real Estate manages approximately €4.2 billion in real estate assets and the Real Estate Team comprises over 70 real estate professionals located in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo and London.

For more information, please contact:

Juhani Erke, Partner, CapMan Real Estate, +358 50 549 5104

Ari Vuorentausta, CEO, Lapland Hotels, +358 400 419 896, ari.vuorentausta@laplandhotels.com

 

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and over 5 billion in assets under management. Our objective is to provide attractive returns and innovative solutions to investors. We have set greenhouse gas reduction targets under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs approximately 190 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

About Travel enterprise Lapland Hotels & Safaris

Travel enterprise Lapland Hotels & Safaris offers northern experiences for all the senses. It consists of Finland’s largest private hotel chain, Lapland Hotels, the largest experience service company in the Nordic countries, Lapland Safaris Group Oy and Lapland Ski Resorts.The Group has approximately 1,700 employees in total.

Lapland Hotels has 19 hotels, more than 2,400 rooms and apartments, as well as over 10,000 restaurant seats around Finland: In Ylläs, Levi, Saariselkä, Rovaniemi, Olos, Luosto, Kilpisjärvi, Pallas, Hetta, Helsinki, Tampere, Oulu and Kuopio.

Lapland Safaris offers unique outdoor activities in five destinations in Lapland: Rovaniemi, Ylläs, Saariselkä, Levi and Luosto.

Lapland Ski Resorts comprises five ski centres located in Ylläs, Luosto, Olos, Pallas and Rovaniemi.

www.laplandhotels.com, https://www.laplandsafaris.com/en/

Categories: News

Tags:

AGP Sustainable Real Assets Announces Strategic Investment from Stonepeak

Stonepeak

 

SINGAPORE & NEW YORK – November 3, 2023 – AGP Sustainable Real Assets (“AGP”), a Singapore-based global infrastructure and real assets developer and operator, today announced a strategic, preferred investment from Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets.

As a strategic capital partner, Stonepeak will bring valuable expertise to the AGP management team, and help to accelerate the growth of AGP’s portfolio across business verticals including energy transition and sustainable community infrastructure across housing, logistics, and data.  The partnership also gives Stonepeak the opportunity to invest across new markets and sectors with a trusted local partner. Together, Stonepeak and AGP will work to further AGP’s mission to build real assets that enable a sustainable and net zero emissions future.

Ben Salmon, AGP Partner, commented: “This strategic investment represents a pivotal milestone in AGP’s journey. We are thrilled to be working with such a high caliber partner in Stonepeak and foresee this investment as a powerful catalyst for our forward trajectory. AGP is committed to reshaping the landscape of infrastructure development. Our aim is to seamlessly integrate energy and community infrastructure, developing innovative sustainable solutions that meet society’s evolving needs.”

Hajir Naghdy, Senior Managing Director at Stonepeak added: “We look forward to partnering closely with AGP’s management team, who has over 20 years of experience, on the development, construction, and operation of sustainable infrastructure. AGP’s global energy transition portfolio, logistics and community housing platform in India, and data center joint venture with Stonepeak’s existing portfolio company, Digital Edge, are directly aligned with Stonepeak’s key verticals. The opportunity to invest in sustainable asset creation and the exposure across multiple geographies make this partnership a strong fit for Stonepeak’s Asia infrastructure strategy.”

Elmahdi Tahri, AGP Partner and CIO of AMPYR Energy Global, AGP’s global renewable energy platform, added: “In Stonepeak we have found a unique like-minded partner able to support our energy transition mission across our entire footprint. We are excited to take AMPYR’s decarbonisation contribution to new heights alongside Stonepeak.”

The investment is expected to close in Q4 2023 subject to satisfaction of customary closing conditions.

Sidley Austin LLP is serving as legal counsel to Stonepeak, and Clifford Chance LLP is serving as legal counsel to AGP.

About AGP Sustainable Real Assets

Headquartered in Singapore, AGP invests in, develops and operates sustainable real assets across three key investment themes: renewable energy, infrastructure and communities, and natural capital.  AGP’s mandate is to promote real assets that generate positive impact for people and the environment, by focusing on ‘Sustainable Real Assets’: transformative infrastructure assets that make positive contributions to satisfying the UN SDGs. AGP is presently developing, constructing, delivered and/or operating globally an aggregate portfolio of over 12GW of renewable energy assets, 5msqft of modern logistics warehousing, 310MW of datacenter capacity, and 20msqft of community housing. For more information, please visit  www.agpgroup.com and www.ampyrenergy.com.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $57.1 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, social infrastructure, and real estate. Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney. For more information, please visit www.stonepeak.com.

Contacts

AGP Sustainable Real Assets

CHIA Hui Kheng
Citigate Dewe Rogerson
huikheng.chia@citigatedewerogerson.com
+65 6589 2361

Stonepeak

Kate Beers / Maya Brounstein
Corporate Communications
corporatecomms@stonepeak.com
+1 (212) 907-5100

 

Categories: News

Tags:

Stonepeak Completes Sale of 1.3 Million Square Foot Omni Industrial Campus in Charleston, South Carolina

Stonepeak

NEW YORK, NY – October 24, 2023 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has completed the sale of Omni Industrial Campus, a three-building, 1.3 million square foot logistics portfolio in Charleston, South Carolina. Financial terms of the transaction were not disclosed.

Omni Industrial Campus is strategically located along Interstate 26 between Interstate 95 and the Port of Charleston, which is expected to double in capacity by 2033 as a result of continued share-shift from West Coast ports to East Coast ports, population growth, and growth of manufacturing in the greater Charleston area. The Port’s expansion is driving additional demand for warehouse space from customers entering and expanding in the Charleston market, making Omni Industrial Campus a prime location for customers given its proximity to strategic transportation infrastructure.

“This transaction demonstrates Stonepeak’s ability to identify and execute investments at the intersection of real estate and infrastructure,” said Phill Solomond, Senior Managing Director and Head of Real Estate at Stonepeak. “We leveraged insights from our leading infrastructure platform to build conviction around this submarket, which has seen strong logistics growth as a direct result of the expanding Port of Charleston.”

Stonepeak’s real estate team invests thematically in real estate assets that demonstrate infrastructure characteristics. The team draws on its deep experience from prior leadership positions within leading investment firms to invest behind high conviction sectors including supply chain, residential, healthcare, and technology real estate. Drawing upon the strength and insights of the broader Stonepeak platform, the team targets opportunities supported by strong macro tailwinds that have durable cash flow profiles, embedded demand drivers, high barriers to entry, inflation protection, and are mission critical to the businesses and communities they serve.

Latham & Watkins LLP served as legal counsel and JLL Capital Markets served as financial advisor to Stonepeak.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $57.1 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, social infrastructure, and real estate. Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney. For more information, please visit www.stonepeak.com.

Contacts

Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (212) 907-5100

Categories: News

Tags:

KKR And Etche Complete The Acquisition Of Over 160,000 Square Meters Of Logistic Properties In France From Ivanhoé Cambridge

KKR

Transaction is KKR’s first in France via its Core+ real estate strategy, and fourth for the strategy in Europe this year following UK, Finland and Sweden acquisitions

 

Paris October 19th, 2023 – KKR and Etche, KKR’s logistics real estate platform in France, today announced the acquisition of the SCOTT logistics portfolio from Ivanhoé Cambridge, comprising five buildings with a total area exceeding 160,000 square meters. These assets, two of which have just been completed, are strategically located in prime logistics zones in the ‘Dorsale’ on the outskirts of Lyon, Grenoble, Orléans, Compiègne and Strasbourg. The buildings are fully occupied by quality anchor tenants on long-term leases.

The acquisition continues Etche’s strategic focus on the logistics sector and is KKR’s first transaction in France through its European Core+ real estate strategy, which focuses on investing in high quality, substantially stabilised assets with medium-term value growth potential.

“The acquisition of this portfolio is a clear demonstration of our ability to swiftly execute significant deals in a challenging market environment, thanks in large part to the reinforcement of our teams with Joffrey Houdoux (Investment Manager) and Julien Chevrier (Chief Administrative and Financial Officer) who joined the firm this year. This strategic portfolio combines strong fundamentals and significant potential for value appreciation, which will allow us to navigate the current period with confidence. It serves as an excellent foundation upon which we can soon aggregate new buildings of similar quality,” said Vincent Lauret, President of Etche.

 

“This first acquisition through our Core+ strategy in France reflects our desire to acquire a quality portfolio for the long term, particularly in the logistics sector. We expect that the sector fundamentals will continue to be very positive for the years to come, particularly given the lack of future supply in France, which should continue to benefit owners of existing, quality assets,” commented Mai-Lan de Marcilly, Managing Director and Head of Transactions France & Hotels at KKR.

 

“This transaction is exemplary of our broader ambition in France and regionally – to invest in high-quality assets in prime locations and with strong fundamentals, and where we have the potential to drive value. The collaboration with Etche in France has created a strong basis for our team to invest behind the themes that we like, particularly logistics which is benefiting from the rise in e-commerce penetration rates and on-shoring of supply chains. We’re delighted to have expanded the portfolio into France and look forward to building further on this,” continued Ian Williamson, Managing Director and Head of Core+ Real Estate in Europe at KKR.

 

“We are delighted to have successfully and seamlessly concluded the sale of these five assets from our Hub&Flow logistics platform to KKR-Etche. This transaction is the result of our asset management efforts and enables us to recycle our capital in the logistics market. We remain convinced of the logistics sector’s resilience, and this sector will continue to be a strategic priority for us over the long term through the growth of the Hub&Flow platform in Europe along main logistics corridors,” added Maud Wargny, Senior Director, Investments, Europe, at Ivanhoé Cambridge.

KKR is an active investor in logistics real estate across Europe and has a strong track record of investing across real estate sectors in France. The Etche platform currently owns and operates a portfolio of over fifty logistics and light industrial properties across the country. This latest acquisition builds on the regional expansion of KKR’s Core+ strategy since launching in 2022, following acquisitions in Sweden, Finland and the UK earlier this year across logistics, residential and student housing, and in logistics in the Netherlands last year.

CA-CIB provided funding for the operation through a structured financing arrangement in the form of a green loan.

About Etche

Founded in 2010, Etche is a privately-owned French real estate company. A portfolio company of global investment firm KKR, Etche also carries out asset management assignments on behalf of real estate investors. With a portfolio of around fifty assets across France in the corporate real estate sector (business parks, industrial, and logistics properties), Etche is currently undergoing a strategic shift to prioritise logistics-oriented real estate through divestitures or the acquisition of existing or planned properties. With a strong ESG (Environmental, Social, and Governance) strategy, the company has launched an ambitious decarbonization plan for its portfolio, encouraging its suppliers and employees to identify innovative and more environmentally friendly solutions.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on X @KKR_Co.

 

About Ivanhoé Cambridge

Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.

Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in 1,500 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$77 billion in real estate assets as of December 31, 2022, and is a real estate subsidiary of CDPQ (cdpq.com), a global investment group. For more information:  ivanhoecambridge.com.

MEDIA CONTACTS

ETCHE

Treize Cent Treize

Aurélie Caron / Lou Girault-Solal / Alain N’Dong – +33 1 53 17 97 13 – Presse_Etche@1313.fr

KKR

FGS Global

Alastair Elwen / Sophia Johnston – KKR-Lon@FGSGlobal.com – Tel: +44 (0) 20 7251 3801

IVANHOE CAMBRIDGE

Galivel & Associés

Carol Galivel / Sébastien Matar – + 33 1 41 05 02 02 – galivel@galivel.com

   Thomas Carlat – Ivanhoé Cambridge – +33 6 73 46 00 97 – thomas.carlat@ivanhoecambridge.com

Categories: News

Tags:

CapMan Nordic Property Income Fund (non-UCITS) sells a warehouse property in Skovlunde, Denmark

Capman

CapMan Nordic Property Income Fund (non-UCITS) sells a warehouse property in Skovlunde, Denmark

CapMan Nordic Property Income Fund (non-UCITS) sells Tonsbakken 12–14, a warehouse property situated in Skovlunde, greater Copenhagen, Denmark. The fund acquired the property in 2018 and is selling it now for redevelopment to two separate parties, Nordic data centre services company atNorth and Danish property developer Propreco.

”We are very happy about this divestment. It is a testament of our investment approach where we invest in properties and locations that demonstrate liquidity in all phases of the cycle. This active portfolio management enables us to continue with our stock picking approach and look for new investments where we see attractive opportunities”, says Mika Matikainen, Portfolio Manager of the fund and Managing Partner at CapMan Real Estate.

CapMan Real Estate manages approximately €4.2 billion in real estate assets and the Real Estate Team comprises over 70 real estate professionals located in Helsinki, Stockholm, Copenhagen, Oslo and London.

CapMan Nordic Property Income Fund (“CMNPI”) is a non-UCITS active open-ended fund that distributes a minimum of 75% of its annual realised profit to its unit holders. The fund has an established sustainability strategy and it received four stars in its 2023 GRESB* assessment. The fund focuses on stable income generating properties such as light industrial and warehouse properties, modern offices, selected retail assets and niche properties in the living sector in most liquid Nordic cities with solid long-term growth fundamentals. The fund accepts new subscriptions on a quarterly basis and targets 7% annual net return.**

* GRESB assesses and compares the ESG performance of real assets globally and has become the go-to benchmark for asset managers and investors when it comes to ESG performance of different funds and companies. GRESB ratings range from one to five stars.

** Past performance is no guarantee for future returns.

For more information, please contact:

Peter Gill, Partner and Head of CapMan Real Estate Denmark, +45 20 43 55 63

Mika Matikainen, Portfolio Manager of CMNPI and Managing Partner and CEO at CapMan Real Estate, tel. +358 40 519 0707

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With 5.1 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have set greenhouse gas reduction targets under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business consists of procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.

Categories: News

Tags:

CapMan Real Estate invests in logistics development project in Greater Jönköping, Sweden

Capman

CapMan Real Estate invests in logistics development project in Greater Jönköping, Sweden

CapMan Real Estate acquires a logistics development project situated in LogPoint South, a prime logistics hub ca 20 km south of Jönköping city centre in Sweden. The investment is the first greenfield logistics development project for CapMan Real Estate. The investment is made in a joint venture together with logistics development operating partner Nordsten Development. The seller is Venturi Fastigheter, a Swedish property development company.

The property comprises of approx. 340,000 square meters of land, which can be developed into 200,000 square meters of prime logistic space. The property is located with strong visibility and access to highway E4, one of Sweden’s main highways. The transaction is conditional upon the zoning plan for the property gaining legal force.

The Jönköping area is ranked as the third best logistic hub in Sweden by the industry business paper Intelligent Logistik. Jönköping is located in the centre of the “Logistic Triangle”, which connects the capital cities of Scandinavia, providing access to 80% of the Swedish population within a radius of 400 kilometres. The area holds several modern logistic properties and is favoured by many companies due to its proximity to major highways.

”We are excited to acquire this property for development of prime logistic premises. This marks CapMan Real Estates entry into the logistic development market, and it complements our existing fund portfolio very well. We have set the bar high with our ESG targets in this project, aiming for EU Taxonomy alignment and to certify the buildings with a minimum of BREEAM-SE New Construction Excellent. We look forward to developing the property into modern logistic premises attracting a diverse range of tenants, together with our partner Nordsten Development”, says Marcus Lotzman, Investment Director, CapMan Real Estate Sweden.

This is the 14th investment of the CapMan Nordic Real Estate Fund III.

CapMan Real Estate manages approximately €4.2 billion in real estate assets and the Real Estate Team comprises over 70 real estate professionals located in Helsinki, Stockholm, Copenhagen, Oslo and London.

For more information, please contact:

Magnus Berglund, Partner, Head of CapMan Real Estate Norway and Sweden, +46 (0) 707 86 68 08

Marcus Lotzman, Investment Director, CapMan Real Estate Sweden, +46 (0) 706 80 60 81

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With 5.1 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have set greenhouse gas reduction targets under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business consists of procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.

Categories: News

Tags:

KKR sells over $560 MILLION of U.S. industrial Real Estate

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR has completed the sale of over 5 million square-feet (SF) of industrial warehouse and distribution properties for a total aggregate value of over $560 million. The dispositions were completed through five discrete transactions with five separate buyers. The fifth and final sale closed on September 29th.

The sales, primarily consisting of assets in KKR’s Real Estate Partners Americas II fund, included over 50 industrial buildings located in high-growth, infill markets across Atlanta, Dallas-Fort Worth, Chicago, the Lehigh Valley and Central Pennsylvania. Since 2018, across its investment strategies in the U.S., KKR has acquired over 60 million SF of logistics assets totaling approximately $8.0 billion of aggregate value. Including these five sales, KKR has sold approximately 21 million SF since 2021 and currently owns over 40 million SF of industrial real estate in major metropolitan areas.

“Our strong focus on asset quality and market selection gives us flexibility to deliver results for our investors in different market conditions, whether through the sales of large portfolios or individual dispositions of well-bought properties,” said Ben Brudney, a Director at KKR overseeing U.S. industrial real estate investments. “We continue to selectively acquire logistics properties in growth markets and our existing portfolio continues to benefit from high occupancy and embedded rent growth potential.”

“Industrial real estate is the largest exposure across our U.S. opportunistic and core plus real estate strategies, and we have built a dedicated investment and operating platform focused on this sector that enables us to own great properties at scale,” said Roger Morales, Partner and Head of Real Estate Acquisitions in the Americas at KKR. “These sales demonstrate the attractive bid that exists for a quality assets in supply-constrained locations.”

KKR’s global real estate business invests in high-quality, thematic real estate through a full range of scaled equity and debt strategies. Managing over $64 billion in assets as of June 30, 2023, KKR’s approximately 150 dedicated real estate investment and asset management professionals across 17 offices worldwide apply the capabilities and knowledge of KKR’s global platform to deliver solutions for clients and investors.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Media:
Miles Radcliffe-Trenner
+1 212-750-8300
media@kkr.com

Source: KKR

Categories: News

Tags:

Quilvest Capital Partners Real Estate and Dromeus Capital Group to invest over €100 million in sustainable Greek logistics program expansion

Quilvest

27 September 2023 – Quilvest Capital Partners (“Quilvest”), a leading global private
investment firm and Dromeus Capital Group (“Dromeus”), an alternative investment manager
focused on Greek commercial real estate, are pleased to announce the launch of a joint
venture (the “Joint Venture”) to invest over €100 million in the acquisition and development of
industrial and logistics properties across Greece, with a strong emphasis on sustainable
assets.

The Joint Venture is focused on developing modern logistics assets that adhere to the highest
ESG standards, which include using sustainable construction materials and installing
photovoltaic panels to generate discounted renewable energy, as well as EV charging points
to power electric vehicles.

Building upon the success of a pilot investment completed in 2022, the Joint Venture is
currently in the process of advancing its inaugural project – a 42,000 sqm LEED Gold-certified
warehouse situated in Elefsina, West Attica. As the main logistics hub of Athens, West Attica
offers convenient access to the Attica ring road, the main motorways, the Port of Piraeus, and
the broader Athens metropolitan area. Furthermore, plans to expand the site by an additional
30,000 sqm are on the horizon, planned in the next two years.

The Athens logistics market has been showing strong growth fundamentals, fuelled by
Greece’s economic recovery, the rise of e-commerce in the country, and the increasing
importance of the Port of Piraeus as a gateway to Europe for global trade. The lack of modern
stock able to fulfil tenants’ demands has led to very low vacancies for prime warehouses and
significant rental level appreciation, a trend set to continue.

As the majority shareholder and financial partner, Quilvest has a distinguished track record of
partnering with local investors and managers globally to capitalise on investment opportunities
in sectors with strong fundamentals and growth potential. In the logistics/industrial sector,
Quilvest has acquired c. 700k sqm of real estate since 2015 and has demonstrated a
successful experience in aggregating and exiting portfolios in Europe and the US.
Michael Kandarakis, Partner and Co-Head of Real Estate at Quilvest, commented: “We are
delighted to introduce Herod, Greece’s first sustainability-focused logistics platform of
significant scale. It is a natural extension of a 10-year record of investing in the industrial and
logistics sector in Europe and the US. Our goal is to support Greece’s growing economic and
trading activity by developing storage space that adheres to the highest efficiency and ESG
standards. We are thrilled by our collaboration with the talented team at Dromeus.”

Achilles Risvas, CEO and Founder of Dromeus Capital Group, said: “We are very excited to
formally launch our logistics platform, Herod. The surging demand for modern, Grade-A
logistics warehouses coupled with the lack of existing supply underpins our investment thesis.
With Quilvest’s extensive expertise and resources, we have a powerful ally in our mission to
redefine the Greek logistics landscape.”
ENDS

About Quilvest Capital Partners:
Quilvest Capital Partners is a leading global investment firm focused exclusively on the midmarket. It operates four investment strategies: Real Estate, Funds & Co-Investments, Direct
Private Equity and Private Debt.
As one of the earliest pioneers in the alternative investment industry, Quilvest takes pride in
its rich and extensive history, with decades of experience deploying capital across multiple
business cycles and environments. The firm is trusted to manage over $7bn AUM for a
prestigious base of global investors, including leading pension plans, sovereign wealth funds,
insurance companies, and family offices. Quilvest’s heritage dates back more than a century
to 1917, when it began managing the wealth of the company’s founding shareholder, the
Bemberg family, which it continues to do to this day.
With six offices worldwide, the team is focused on identifying the global trends and themes
underpinning each investment strategy. In real estate, where the firm invests across Europe
and the US, the focus is on inefficient “niches within niches” in the lower mid-market value add
space, where risk is mispriced and competition scarcer. Since its inception in 2012, the team
has acquired $1.2bn of real estate across 30 transactions.
Quilvest overlays this thematic approach with an extensive global network of highly valued
relationships, enabling the team to identify and invest in the best opportunities for investors
and partners.

Quilvest Capital Partners is committed to the highest standards of excellence offering best-inclass infrastructure and the professionalism of a global investment firm, while retaining the
deeply personal, entrepreneurial, nimble approach rooted in its origins.
For more information, visit www.quilvestcapitalpartners.com

About Dromeus:
Dromeus Capital Group is an alternative investment management firm with a thematic, valueoriented investment philosophy. Established in 2008, the firm concentrates on a select
number of high-conviction thematic ideas with asymmetrical risk-reward characteristics.
These themes encompass a broad spectrum, including distressed investments, real estate,
digital infrastructure, and geographic-specific or sector-specific strategies.
In 2017, Dromeus ventured into the real estate investment sector, guided by its belief that
Greece’s improving macroeconomic conditions and several sector-specific dynamics provided
an opportune environment for targeted commercial real estate investments. Employing a
thematic investment strategy, Dromeus strategically allocated resources to Greek real estate
assets, spanning various risk levels, with a particular focus on opportunities within the office
and logistics sectors. Presently, Dromeus operates a robust local investment platform,
employing a team of 21 dedicated real estate professionals based in Athens. The company
owns and manages a diverse portfolio comprising 27 commercial real estate assets, with a
Gross Asset Value surpassing €0.5 billion.

For more information, please visit www.dromeuscapital.com.
Media contacts:
Greenbrook
Tashi Lassalle / Sofia Newitt
+44 (0) 20 7952 2000
QuilvestCapital@greenbrookadvisory.com

Categories: News

Tags: